Newtek Business Services (NASDAQ:NEWT) Lifted to “Hold” at Zacks Investment Research

Newtek Business Services (NASDAQ:NEWTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, reports.

According to Zacks, “Newtek Capital, Inc. resulted from the combination of the businesses previously owned by BJB Holdings, Inc. and REXX Environmental Corporation and is operating as a holding company for a network of partner companies in a collaborative and coordinated effort to develop successful businesses in a number of existing as well as emerging, technological business lines. “

Separately, began coverage on Newtek Business Services in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

Shares of NASDAQ NEWT opened at $24.84 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.80 and a quick ratio of 3.80. The stock has a market capitalization of $560.07 million, a PE ratio of 6.71 and a beta of 1.09. Newtek Business Services has a one year low of $24.00 and a one year high of $38.78. The business’s fifty day moving average price is $26.46 and its 200-day moving average price is $27.79.

Newtek Business Services (NASDAQ:NEWTGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The business services provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The business had revenue of $24.80 million for the quarter, compared to the consensus estimate of $14.29 million. Newtek Business Services had a net margin of 99.71% and a return on equity of 21.02%. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, equities analysts expect that Newtek Business Services will post 2.71 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of NEWT. Arkadios Wealth Advisors raised its holdings in shares of Newtek Business Services by 4.5% in the 1st quarter. Arkadios Wealth Advisors now owns 43,891 shares of the business services provider’s stock valued at $1,172,000 after acquiring an additional 1,882 shares in the last quarter. Brookstone Capital Management raised its stake in Newtek Business Services by 3.9% in the first quarter. Brookstone Capital Management now owns 19,665 shares of the business services provider’s stock valued at $493,000 after purchasing an additional 740 shares in the last quarter. Paradigm Financial Partners LLC bought a new stake in Newtek Business Services during the fourth quarter valued at approximately $536,000. Jaffetilchin Investment Partners LLC increased its holdings in shares of Newtek Business Services by 8.6% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 34,214 shares of the business services provider’s stock worth $945,000 after buying an additional 2,705 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Newtek Business Services by 1,542.8% during the 4th quarter. Marshall Wace LLP now owns 309,625 shares of the business services provider’s stock valued at $8,555,000 after buying an additional 290,778 shares in the last quarter. Institutional investors and hedge funds own 25.22% of the company’s stock.

Newtek Business Services Company Profile (Get Rating)

Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments.

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